DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was 1 cent stronger at 37 cents under the March futures contract, while the DTN National Corn Index was down 2 at $4.00. The national average basis for soybeans was 3 cents stronger at 75 cents under the March futures, while the DTN National Soybean Index was up 2 cents at $9.71. The national average basis for hard red winter (HRW) wheat was 6 cents stronger at 65 cents under the March futures contract, while the DTN National Hard Red Winter Wheat Index was up 6 cents at $4.50. The national average basis for hard red spring (HRS) wheat was 4 cents stronger at 14 cents under the MIAX Minneapolis March futures contract, while the DTN National Hard Red Spring Wheat Index was unchanged cents at $5.56.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$4.00	-$0.02	-$0.37	Mar	$0.011
Soybeans:	$9.71	$0.02	-$0.75	Mar	$0.039
SRW Wheat:	$4.52	-$0.01	-$0.55	Mar	-$0.010
HRW Wheat:	$4.50	$0.06	-$0.65	Mar	$0.061
HRS Wheat:	$5.56	$0.00	-$0.14	Mar	$0.032

CORN:

The national average corn basis for Friday was 37 cents under the March futures, 1 cent stronger than Wednesday's basis. PNW basis for Feb. is steady at +120H, while Hereford, Texas, is not bid. Jan. CIF basis is steady at +81H and track St. Louis is steady at +25H. Processors are mixed with Cedar Rapids, Iowa, steady at -15H; Fort Dodge, Iowa, is steady at -30H; Council Bluffs, Iowa, is steady at -8H; Des Moines, Iowa, is steady at -20H; Decatur, Illinois, is 3 cents weaker at +7H; Mitchell, South Dakota, is steady at -59H; Blair, Nebraska, is 3 cents weaker at -10H; Hastings, Nebraska, is steady at -45H; Lincoln, Nebraska, is 5 cents stronger at -42H; Garden City, Kansas, is steady at -30H; Columbus, Nebraska, is 2 cents weaker at -14H; St. Paul, Minnesota is steady at +65H; and Marshall, Minnesota, is 2 cents stronger at -33H.

SOYBEAN:

The national average soybean basis for Friday was 75 cents under the March futures, 3 cents stronger than Wednesday's basis. PNW basis for Jan. is steady at +125F. Jan. CIF basis is steady at +100F and Jan. track St. Louis is 10 cents weaker at +30F. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is steady at +15F; St. Paul, Minnesota, is at -75H and basis on the Illinois River at Havana, Illinois, is steady at +10F. Processors are mixed with some still moving to H. Council Bluffs, Iowa, is at -45H; Des Moines, Iowa, is steady at -25F; Cedar Rapids, Iowa, is steady at -30H; Sioux City is 10 cents weaker at -50H; Decatur, Illinois, is steady at +20F; Volga, South Dakota, is steady at -80H; Spiritwood, North Dakota, is steady at -70F; NDSP Casselton, North Dakota is 5 cents stronger at -70H; Hastings, Nebraska, is steady stronger at -94H; Lincoln, Nebraska, is at +36H; Aberdeen, South Dakota, is at -95H; Mitchell, South Dakota, is 10 cents stronger at -79F; and Mankato, Minnesota, is at -38H. BN secondary shuttle freight for returns is not bid or offered, FH Jan. is bid plus $400 over against offers of plus $600 over, LH Jan. is bid plus $600 over against offers of plus $800 over and Feb. is bid plus $1000 over against offers of plus $1500 over. UP secondary freight for returns is not bid plus or offered, and January is bid plus $300 over against offers of plus $500 over and February is bid plus $200 over against offers of plus $1000 over.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Friday was 55 cents under the March futures, 1 cent weaker than Wednesday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Friday was 65 cents under the Kansas City March futures, 6 cents stronger than Wednesday's basis. Spot premiums were steady as mills are mixed with ordinary protein steady at +100; 11% through 11.6% was down 5 at +100; 11.8% was steady +105; 12 through 12.2% is up 7 at +120; 12.4% through 12.8 was up 2 at +120; 13% through 13.2% is steady at +120; 13.4% through 13.6% was steady at +130; 13.8% was steady at +137 and 14% was steady at +147. Gulf bid for spot 11% protein is steady at +100 with no protein bumps. PNW 11.5% is steady at +140, while Texas Gulf basis for 11% is unchanged at +135.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Friday was 14 cents under the MIAX Minneapolis March futures, 4 cents stronger than Wednesday's basis. The MIAX Futures Exchange LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows, basis the March MIAX spring wheat futures: 12% proteins were unchanged at +130N; 13% proteins were unchanged at 145N; 13.5 proteins were up 5 at +125; 14 proteins are unchanged at +125N to +200N; 14.5% proteins were unchanged at +135N; 15% proteins are up 15 to unchanged to up 5 at +265 to +270 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 22 cars, which includes zero train(s). Bid (B), Ask (A), Nominal (N). Minneapolis Daily Spot Grain Prices are Delivered Chicago/Beyond freight.

Mary Kennedy can be reached at mary.kennedy@dtn.com

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